RUT & NDX THOUGHTS
#1
Posted 08 June 2007 - 02:17 PM
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#2
Posted 08 June 2007 - 02:32 PM
Edited by Mr Dev, 08 June 2007 - 02:33 PM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#3
Posted 08 June 2007 - 02:45 PM
For my local market wave 5 has now ended and an A B C correction for 2 years should now start
A few days I was sure that we would see new highs - now I believe the party is over - let's see if next week changes my mind
Isn't that what trading is all about, changing your mind more often than an analyst is allowed to
PPI/CPI are so big next week - they could give us 5+ per cent down or stabilize things until next month
For Nasdaq Composite februar top of 2.531 seems to be a good point of reference
Today's move is also extremely strong, yesterday's close was definitely panic sellers
still in doubt guys, let's see next week - a bear for now
Enjoy the weekend;-)
If you are long from yesterdays close or earlier today .......you would do ok to be getting out where yesterdays Longs got in early....
ie no one here at this board of course.... as they may start selling as they almost get back to even and wish they'd
shorted yesterday instead.
However,... the charts may have a little more left to the upside believe it or not.. FLAT is probably the best
place to be...... or a partial short .....because as the Trend has changed the big move has come and gone...
there will be plenty of time to ride the new trend.,... if that is what we have. Re shorting any pop Monday will be
fine. We have had a large range move..... it may be time to whip those that where late ....by consolidating.
Keep that in mind and Trade safe.
#4
Posted 08 June 2007 - 02:53 PM
A moot point perhaps, but do you really believe the big move has come and gone? You dont think that the next move down after this bounce will be equally big or bigger?
If you are long from yesterdays close or earlier today .......you would do ok to be getting out where yesterdays Longs got in early....
ie no one here at this board of course.... as they may start selling as they almost get back to even and wish they'd
shorted yesterday instead.
However,... the charts may have a little more left to the upside believe it or not.. FLAT is probably the best
place to be...... or a partial short .....because as the Trend has changed the big move has come and gone...
there will be plenty of time to ride the new trend.,... if that is what we have. Re shorting any pop Monday will be
fine. We have had a large range move..... it may be time to whip those that where late ....by consolidating.
Keep that in mind and Trade safe.
#5
Posted 08 June 2007 - 02:55 PM
Edited by Mr Dev, 08 June 2007 - 03:00 PM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#6
Posted 08 June 2007 - 03:06 PM
Thanks for all the analysis Dev.
A moot point perhaps, but do you really believe the big move has come and gone? You dont think that the next
move down after this bounce will be equally big or bigger?
A Yes that was a 3 day down move that just wiped out at least 3 weeks of gains on the Dow and S&P and that
is a ... "ell" of a big move for 3 days.... ADD to that we just shot up off that low and you add those point to your
gains. Time for a small break!
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#7
Posted 08 June 2007 - 03:16 PM
Edited by thespookyone, 08 June 2007 - 03:17 PM.
#8
Posted 08 June 2007 - 03:23 PM
Thanks for all the analysis Dev.
A moot point perhaps, but do you really believe the big move has come and gone? You dont think that the next
move down after this bounce will be equally big or bigger?
A Yes that was a 3 day down move that just wiped out at least 3 weeks of gains on the Dow and S&P and that
is a ... "ell" of a big move for 3 days.... ADD to that we just shot up off that low and you add those point to your
gains. Time for a small break!